Select the right agreement for you to become a star.
We offer a simple range of five agreements (this includes the Scottish version of our Foundation Tenancy), the key features of each are explained below. The agreement that a particular pub is offered is displayed on our website. All our agreements (excluding Just Add Talent) are tied for beer, cider, alcopops and soft drinks but free of tie-on wine and spirits.
Note that the following is a high level summary of our agreements. It is important that you take independent legal advice before you commit to an agreement.
1. JUST ADD TALENT
This is our Managed Operator style agreement. We set the offer, pay for all the stock, and cover most other costs. You are responsible for delivering the offer and employing your own staff.
KEY FEATURES:
- Term is open-ended and can be terminated by you with three months' notice or by us at any time
- No rent, utilities or rates
- No maintenance costs
- You are paid a revenue share between 20-30% of net turnover
- You will also get 20% of the pub's net profit paid quarterly in arrears
Find out more about Just Add Talent
2. FOUNDATION TENANCY: OUR STANDARD AGREEMENT (England & Wales)
You have the freedom to set the pub's offer and you can manage your risk by having the option to break the agreement at any time with three months’ notice.
Contracted out of the Landlord and Tenant Act 1954, the agreement will come to an end after five years.
KEY FEATURES:
- Five-year fixed term
- Rent is fixed for the full term
- We can terminate the agreement on three months’ notice if there are significant rent arrears or tie breaches
- You can terminate the agreement on three months' notice
- Reduced repair and maintenance obligations compared to FRI
3. FOUNDATION TENANCY: OUR STANDARD AGREEMENT (Scotland)
You have the freedom to set the pub's offer and you can manage your risk by having the option to break the agreement at any time with three months’ notice.
Contracted out of the Landlord and Tenant Act 1954, the agreement will come to an end after five years.
KEY FEATURES:
- Three-year fixed term
- Rent is fixed for the full term
- We can terminate the agreement on three months’ notice if there are significant rent arrears or tie breaches
- You can terminate the agreement on three months' notice
- Reduced repair and maintenance obligations compared to FRI
4. INVESTMENT TENANCY
This is used for pubs that we will significantly invest in and where a qualifying investment waiver is entered into as per Regulation 56 The Pubs Code etc. Regulations 2016.
As with the Foundation Tenancy, you have the freedom to set the pub's offer. It is covered by the Landlord and Tenant Act 1954, meaning that you have renewal rights at the end of the five-year term.
KEY FEATURES:
- Five-year rolling term
- The agreement can only be ended once every five years on the anniversary of its start date. If no notice is served by either the Tenant or Landlord it will “roll” for a further period of 5 years
- Rent is fixed for each five-year term
- Rent review every five years
- Reduced repair and maintenance obligation compared to FRI
5. FULLY REPAIRING AND INSURING LEASE (FRI)
Perfect for experienced licensees who want time to build up the value of their business and accrue the return on their investment with the added benefit of being able to sell their lease on should they choose to (known as ‘assign’). Fully protected under the Landlord and Tenant Act 1954.
KEY FEATURES:
- Minimum ten-year agreement
- Assignable after two years
- Rent review every five years
- No annual Retail Prices Index (RPI) increases
- You will be responsible for all repairs and maintenance
How much does it cost to take on a leased pub?
Every pub lease is different, so requires individual support and investment. Please see a guide below:
